Deficit Will Reach $1 Trillion Next Year, Budget Office Predicts

SummerMadness · Aug 21, 2019

Deficit Will Reach $1 Trillion Next Year, Budget Office Predicts

The federal budget deficit is growing faster than expected, even as President Trump openly considers more tax cuts and other ideas that would add to government debt.

The deficit will reach $960 billion for the 2019 fiscal year, which ends Sept. 30, and $1 trillion for the 2020 fiscal year, the Congressional Budget Office said in updated forecasts released on Wednesday. Previously, it had projected an $896 billion deficit for 2019 and $892 billion for 2020. Those numbers would be even higher, if not for lower-than-expected interest rates, which are reducing the cost of servicing the national debt.

I know! We need to have more tax cuts and once the recession begins, don't blame the unneeded tax cuts, attack social security and pension plans, then complain about American workers hurting the country.

Tom 1 · Aug 21, 2019

SummerMadness said:
Deficit Will Reach $1 Trillion Next Year, Budget Office Predicts

I know! We need to have more tax cuts and once the recession begins, don't blame the unneeded tax cuts, attack social security and pension plans, then complain about American workers hurting the country.

The worst only needs to be put off until after the election. Distractions, lies and short term measures might be enough to push the Trump train over the finishing line.

Speedwell · Aug 21, 2019

SummerMadness said:
Deficit Will Reach $1 Trillion Next Year, Budget Office Predicts

I know! We need to have more tax cuts and once the recession begins, don't blame the unneeded tax cuts, attack social security and pension plans, then complain about American workers hurting the country.

Republicans don't care about deficit spending. They only care that none of the money is spent on lazy poor people.

essentialsaltes · Aug 21, 2019

Promises promises.

In a March 31, 2016, interview with the Washington Post, Donald Trump promised to eliminate the United States' $19 trillion in debt in eight years.

Trump later softened his promise by pledging to reduce a chunk, rather than the totality of debt, in an April 2016 interview with Fortune. Asked by how much, Trump failed to provide a figure.

Turns out it was all a cruel joke on the US taxpayer.

essentialsaltes · Aug 21, 2019

22,525,000,000,000 and counting.

rambot · Aug 21, 2019

How can it be? I thought govt. Income through taxation is greater than its ever been?

With such a low unemployment rate and people making such higher wages, I'd thought the debt would be shrinking.

cow451 · Aug 24, 2019

rambot said:
How can it be? I thought govt. Income through taxation is greater than its ever been?

With such a low unemployment rate and people making such higher wages, I'd thought the debt would be shrinking.

You would be wrong. We must pay for the wealthy to have lower taxes which, through the magic of trickle down, will pay off the debt and usher in a new age of really great stuff. Everybody will love it. Unless you’re a traitor.

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Deficit Will Reach $1 Trillion Next Year, Budget Office Predicts

SummerMadness

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Tom 1

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Speedwell

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essentialsaltes

Stranger in a Strange Land

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essentialsaltes

Stranger in a Strange Land

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rambot

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cow451

Standing with Ukraine.

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